A class-action suit against Monster Worldwide advanced last week when Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York certified a class.
The suit claims violations of securities law by the big job-boards company, its former CEO and chairman Andrew J. McKelvey and its former general counsel and SVP Myron Olesnyckyj. Shareholders lost money when the company and the two execs backdated stock options, the class action claims. Middlesex County Retirement System was named lead plaintiff in the case.
